BMGS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BMGS
Largest movements
- Receivables within one year +€274,409
up €274,409 (+778.1%), from €35,266 to €309,675
of which Other amounts receivable: +€273,242
- Tangible fixed assets +€156,408
up €156,408 (+120.7%), from €129,578 to €285,986
of which Land and buildings: +€166,788
- Receivables after one year +€82,669
up €82,669 (+379.5%), from €21,782 to €104,451
- Cash -€80,843
down €80,843 (-67.4%), from €119,932 to €39,089
mainly Receivables within one year (-€274,409) and Investment in fixed assets (net) (-€109,781)
- Financial fixed assets -€60,000
down €60,000 (-40.0%), from €150,000 to €90,000
- Reserves +€355,228
up €355,228 (+104.2%), from €340,773 to €696,001
of which Distributable reserves: +€355,228
- Tax, wage and social debts +€32,444
up €32,444 (+148.9%), from €21,793 to €54,237
of which Taxes: +€32,429
- Debts after one year -€19,451
down €19,451 (-32.1%), from €60,575 to €41,124
- Accrued charges and deferred income +€10,877
up €10,877, from €0 to €10,877
- Financial income +€281,884
up €281,884 (+6629.3%), from €4,252 to €286,136
of which Non-recurring financial income: +€169,749
- Taxes +€23,261
up €23,261 (+53.2%), from €43,683 to €66,943
- Depreciation +€9,784
up €9,784 (+272.6%), from €3,589 to €13,373
- Gross operating margin +€3,860
up €3,860 (+2.5%), from €153,347 to €157,207
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €457,556 | €830,205 | +€372,649 | +81.4% |
| Fixed assets | 21/28 | €279,578 | €375,986 | +€96,408 | +34.5% |
| Tangible fixed assets | 22/27 | €129,578 | €285,986 | +€156,408 | +120.7% |
| Land and buildings | 22 | €78,725 | €245,514 | +€166,788 | +211.9% |
| Furniture and vehicles | 24 | €50,853 | €40,473 | -€10,380 | -20.4% |
| Financial fixed assets | 28 | €150,000 | €90,000 | -€60,000 | -40.0% |
| Current assets | 29/58 | €177,978 | €454,219 | +€276,241 | +155.2% |
| Amounts receivable after more than one year | 29 | €21,782 | €104,451 | +€82,669 | +379.5% |
| Other amounts receivable | 291 | €21,782 | €104,451 | +€82,669 | +379.5% |
| Amounts receivable within one year | 40/41 | €35,266 | €309,675 | +€274,409 | +778.1% |
| Trade receivables | 40 | €8,446 | €9,613 | +€1,166 | +13.8% |
| Other amounts receivable | 41 | €26,820 | €300,062 | +€273,242 | +1018.8% |
| Cash at bank and in hand | 54/58 | €119,932 | €39,089 | -€80,843 | -67.4% |
| Deferred charges and accrued income | 490/1 | €997 | €1,004 | +€6 | +0.6% |
| Total equity and liabilities | 10/49 | €457,556 | €830,205 | +€372,649 | +81.4% |
| Equity | 10/15 | €347,073 | €702,301 | +€355,228 | +102.3% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €340,773 | €696,001 | +€355,228 | +104.2% |
| Non-distributable reserves | 130/1 | €1,870 | €1,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,870 | €1,870 | = | 0.0% |
| Distributable reserves | 133 | €338,903 | €694,131 | +€355,228 | +104.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €110,483 | €127,904 | +€17,421 | +15.8% |
| Amounts payable after more than one year | 17 | €60,575 | €41,124 | -€19,451 | -32.1% |
| Financial debts | 170/4 | €60,575 | €41,124 | -€19,451 | -32.1% |
| Amounts payable within one year | 42/48 | €49,908 | €75,903 | +€25,995 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €19,267 | €19,451 | +€184 | +1.0% |
| Trade debts | 44 | €3,989 | €1,382 | -€2,607 | -65.4% |
| Suppliers | 440/4 | €3,989 | €1,382 | -€2,607 | -65.4% |
| Taxes, remuneration and social security | 45 | €21,793 | €54,237 | +€32,444 | +148.9% |
| Taxes | 450/3 | €19,293 | €51,723 | +€32,429 | +168.1% |
| Remuneration and social security | 454/9 | €2,500 | €2,514 | +€14 | +0.6% |
| Other amounts payable | 47/48 | €4,859 | €833 | -€4,026 | -82.9% |
| Accrued charges and deferred income | 492/3 | €0 | €10,877 | +€10,877 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,589 | €13,373 | +€9,784 | +272.6% |
| Other operating charges | 640/8 | €1,245 | €1,642 | +€397 | +31.9% |
| Gross operating margin | 9900 | €153,347 | €157,207 | +€3,860 | +2.5% |
| Operating profit (loss) | 9901 | €148,513 | €142,191 | -€6,322 | -4.3% |
| Financial income | 75/76B | €4,252 | €286,136 | +€281,884 | +6629.3% |
| Recurring financial income | 75 | €4,252 | €116,387 | +€112,135 | +2637.2% |
| Non-recurring financial income | 76B | - | €169,749 | +€169,749 | |
| Financial charges | 65/66B | €1,219 | €1,323 | +€105 | +8.6% |
| Recurring financial charges | 65 | €1,219 | €1,323 | +€105 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €151,547 | €427,004 | +€275,457 | +181.8% |
| Income taxes | 67/77 | €43,683 | €66,943 | +€23,261 | +53.2% |
| Profit (loss) for the period | 9904 | €107,864 | €360,061 | +€252,197 | +233.8% |
| Profit (loss) for the period to be appropriated | 9905 | €107,864 | €360,061 | +€252,197 | +233.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.